定制写作代写服务成功案例
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LAWS3101: Tax Advice Statement (Semester 2, 2024)
Tax Advice Statement (Semester 2, 2024)
项目类别：会计
Instructions
1. Read the Task description and Criteria, marking and performance standards on the course
Blackboard site.
2. You are required to prepare typed-up responses to all three problem sets described herein in
one Word document.
3. This is an individual assessment activity. Students must work alone. The use of generative
artificial intelligence (AI) tools is not permitted. Any attempted use of AI may constitute student
misconduct under the Student Code of Conduct. Students must read and comply with the
Integrity Notice for this assessment item available on the course Blackboard site.
4. You are required to conduct research in preparing your responses to the problem sets using
four specific ATO Guides. These guides and specific instructions about the relevant parts of
each guide you must use, are set out on the course Blackboard site: >> Assessment-folder >>
Tax Advice Statement-folder. You must not include references to these ATO Guides in
your responses. Therefore, there is no word limit allocation for references to these ATO
Guides. Simply use the ATO Guides to formulate your responses.
5. There is no requirement to use a specific font type or font size when you type up your
responses. Using Arial or Times New Roman in 10 or 12 font size works well. Do not include
the problem sets in your responses, just your answers.
6. Type your name, surname and student ID at the top of the first page.
7. You are not permitted to use footnotes, end notes, spreadsheets or text boxes. You must not
include a separate bibliography. As a matter of principle, you must reference relevant case
law and sections and divisions of the Income Tax Assessment Acts in your responses
that are specifically listed in the Topic Learning Plans. Do not include other references in
your responses, as there is no word limit allocation for other references. Therefore, you must
treat this assessment item problem sets as you would any other question.
8. The only permitted submission method is to upload one Word document via Turnitin,
using the Tax Advice Statement submission link on the course Blackboard site: >>
Assessment-folder >> Tax Advice Statement-folder. Students cannot resubmit from 5 pm on
Thursday 10 October 2024. It is your responsibility to retain a copy of the Turnitin receipt. Email
or paper copy submissions will not be accepted. Contact AskUs through the UQ Library and
retain evidence of your actions if you encounter technical difficulties.
9. Due date and time: 5 pm on Thursday 10 October 2024.
10. The total word limit for your responses that includes all headings, all responses, all references,
all pages and all words, all calculations and all amounts is 2500 (two and a half thousand)
words. If you exceed the word limit, the course staff will only grade the first 2500 words in your
submission. Therefore, no penalty applies to submissions that exceed the word limit. Only the
first 2500 words are graded.
Total marks for the Tax Advice Statement = 70 marks
Weighting in final mark = 30%
LAWS3101: Tax Advice Statement (Semester 2, 2024)
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© The University of Queensland 2024 2
Problem Set 1
Abigail Barnes and her three sisters, Caitlin, Donna and Elizabeth, started a private company,
Sisterhood Investments Pty Ltd, in 2010. They each own 25% of the shares in the company.
Sisterhood Investments Pty Ltd sells expensive clothing items to members of the public, earns rent from
office buildings that the company rents out to tenants in Brisbane and Townsville, and receives
dividends from a share investment in the Commonwealth Bank Ltd, Australia’s largest listed bank.
This is the taxable income calculation of Sisterhood Investments Pty Ltd (hereafter referred to as ‘SI’)
for the 2023–2024 income year ending 30 June 2024:
$
Turnover from the sale of trading stock, income from business, s 6-5 ITAA97 40,000,000
Fully franked dividends received, Commonwealth Bank Ltd, s 44 ITAA36 140,000
Gross-up, being franking credits associated with dividends received from the
Commonwealth Bank Ltd, s 207-20 ITAA97
60,000
Rent received from office building tenants, assessable income, s 6-5 ITAA97 8,000,000
Total assessable income 48,200,000
Less:
Tax deductible expenses in relation to retail trading activities, s 8-1 ITAA97 32,000,000
Tax deductible expenses for the office building rental properties, s 8-1 ITAA97 2,450,000
Tax deductible capital allowances, div 40 ITAA97 5,450,000
Taxable income $8,300,000
In addition, this is the other relevant information about SI for the period 1 July 2023 to 30 June 2024:
• The opening credit balance of SI’s franking account on 1 July 2023 totalled $345,000.
• During this 12-month period, SI made PAYG income tax instalment payments totalling
$1,350,000.
• On 28 August 2023, SI paid its shareholders a fully franked dividend totalling $1,800,000.
• On 15 October 2023, SI received a tax refund of $495,000 in relation to its 2019–2020 income
year after it successfully challenged an ATO decision to deny SI tax deductions for legal fees it
incurred.
• On 14 February 2024, SI paid its shareholders dividends totalling $900,000 with franking credits
of $240,000 attached.
Abigail comes to you for advice: She wants to know what the maximum amount of a fully franked
dividend is that SI can pay shareholders on 30 June 2024 without incurring franking deficit tax. In
preparing your detailed tax advice statement for Abigail, show all your calculations and provide reasons
for your answers. In this problem set, there are no case law or sections and divisions from the Income
Tax Assessment Act to reference. In relation to the franking account that you must prepare as part of
your advice statement, use the following five-column layout:
Date Transaction Debit Credit Balance
